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Recommendation *
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Quality
Rating Breakdown
Avg.
Relative Strength
The relative strength of a dividend stock indicates whether the stock is uptrending or not. The major determining factor in this rating is whether the stock is trading close to its 52-week-high.
Overall Yield Attractiveness
If a stock’s yield is above or near the market average then it will be rated higher within this parameter. High dividend yields (usually over 10%) should be considered extremely risky, while low dividend yields (1% or less) are simply not very beneficial to long-term investors.
Dividend Reliability
A stock’s dividend reliability is determined by a healthy payout ratio that is higher than other stocks. A company that pays out close to half its earnings as dividends and retains the other half of earnings has ample room to grow its business and pay out more dividends in the future.
Dividend Uptrend
A stock’s Dividend Uptrend rating is dependent on the company’s price-to-earnings (P/E) ratio to evaluate whether or not a stock’s dividend is likely to trend upward. If a stock is valued near, or slightly below the market average, research has shown that the market expects the stock’s dividend to increase.
Earnings Growth
A stock’s Earnings Growth rating evaluates a company’s expected EPS for the current financial year and compares it to next financial year’s expected EPS. Stocks with single-digit growth estimates will have a higher rating than others, as our research has shown that well-established dividend-paying companies have modest earnings growth estimates.
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KraneShares Emerging Markets Healthcare Index ETF
ETF
KMED
Payout Change
Pending
Price as of:
$19.725
-0.16
-0.8%
primary theme
Emerging Markets Equity
KMED (ETF)
KraneShares Emerging Markets Healthcare Index ETF
Payout Change
Pending
Price as of:
$19.725
-0.16
-0.8%
primary theme
Emerging Markets Equity
KMED (ETF)
KraneShares Emerging Markets Healthcare Index ETF
Payout Change
Pending
Price as of:
$19.725
-0.16
-0.8%
primary theme
Emerging Markets Equity
Name
As of 09/20/2023Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
-10.0%
1 yr return
-0.3%
3 Yr Avg Return
-13.4%
5 Yr Avg Return
-4.0%
Net Assets
$2.13 M
Holdings in Top 10
38.3%
52 WEEK LOW AND HIGH
$19.9
$19.01
$23.64
Expenses
OPERATING FEES
Expense Ratio 0.79%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 73.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Exchange Traded Fund
Name
As of 09/20/2023Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
KMED - Profile
Distributions
- YTD Total Return -10.0%
- 3 Yr Annualized Total Return -13.4%
- 5 Yr Annualized Total Return -4.0%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio -0.05%
- Dividend Yield 0.2%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameKraneShares Emerging Markets Healthcare Index ETF
-
Fund Family NameKrane Funds Advisors, LLC
-
Inception DateAug 29, 2018
-
Shares Outstanding100016
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJonathan Shelon
Fund Description
Under normal circumstances, the Fund will invest at least 80% of its net assets (plus borrowings for investment purposes) in instruments in its Underlying Index or in instruments that have economic characteristics similar to those in the Underlying Index. The Underlying Index is a modified, free float adjusted market capitalization weighted index designed to measure the equity market performance of emerging market companies classified by FactSet Revere Business Industry Classification system (“RBICS”) as being in the health technology or health services industries. The Underlying Index includes companies that RBICS classifies as engaged in the pharmaceuticals, biotechnology, medical specialties, managed health care, hospital/nursing management, medical/nursing services and services to the health industry businesses. Solactive AG (“Index Provider”) defines emerging market companies as those having one of the following countries of risk: Brazil, Chile, China, Czech Republic, Colombia, Egypt, Greece, Hungary, India, Indonesia, Malaysia, Mexico, Peru, Philippines, Poland, Qatar, Russia, South Africa, Thailand, Turkey or United Arab Emirates (“UAE”). The Underlying Index may include small-cap, mid-cap and large-cap companies, but excludes shares listed locally in the UAE.
To be included in the Underlying Index at the time of rebalancing, securities must: (1) be issued by companies with a minimum market capitalization of $1 billion (or $5 billion in the case of China A-Shares); (2) have a minimum average daily trading volume of $1 million as measured over the most recent one-and six-month periods, unless they do not have a six-month history in which case a three-month period will be used; (3) have traded on 90% of the eligible trading days over the last three or six months, as applicable; and (4) trade at a price below $10,000 per share.
As of each rebalance date, the Underlying Index is weighted according to each constituent’s free float-adjusted market capitalization, as modified so that no issuer constitutes more than 4.5% of the Underlying Index and the issuers of any one country do not constitute more than 45% of the Underlying Index. Any excess weights are redistributed pro rata among the other index constituents. The Underlying Index includes only securities of issuers that have a free float market capitalization of 10% or more of their total market capitalization. Free-float market capitalization is calculated by multiplying a security’s price by the number of shares available in the market, rather than the total number of shares outstanding. China A-Shares eligible for inclusion in the Underlying Index must be tradeable through the Shanghai-Hong Kong Stock Connect Program or Shenzhen-Hong Kong Stock Connect Program.
The Fund may invest up to 20% of its assets in instruments that are not included in the Underlying Index, but that Krane believes will help the Fund track the Underlying Index. These investments may include equity securities and depositary receipts of issuers whose securities are not constituents of the Underlying Index, derivative instruments (including swaps, futures, forwards, structured notes and options), other investment companies (including exchange traded funds or “ETFs”) and cash or cash equivalents (including money market funds). The other investment companies in which the Fund may invest may be advised, sponsored or otherwise serviced by Krane and/or its affiliates.
The following China-related securities may be included in the Underlying Index and/or represent investments of the Fund:
| ● | China A-Shares, which are shares of companies incorporated in mainland China that are traded on the Chinese exchanges and denominated in domestic renminbi. China A-Shares are primarily purchased and sold in the domestic Chinese market. To the extent the Fund invests in China A-Shares, it expects to do so through the trading and clearing facilities of a participating exchange located outside of mainland China (“Stock Connect Programs”). A Qualified Foreign Investor (“QFI”) license may also be acquired to invest directly in China A-Shares. |
| ● | China B-Shares, which are shares of companies listed on the Shanghai or Shenzhen Stock Exchange but quoted and traded in foreign currencies (such as Hong Kong Dollars or U.S. Dollars), which were primarily created for trading by foreign investors. |
| ● | China H-Shares, which are shares of companies incorporated in mainland China and listed on the Hong Kong Stock Exchange (“H-Shares”), where they are traded in Hong Kong dollars and may be traded by foreign investors. |
| ● | China N-Shares, which are shares of companies with business operations in mainland China and listed on an American stock exchange, such as NYSE or NASDAQ (“N-Shares”). |
| ● | P-Chips, which are shares of private sector companies with a majority of their business operations in mainland China and controlling private Chinese shareholders, which are incorporated outside of mainland China and traded on the Hong Kong Stock Exchange in Hong Kong dollars. |
| ● | Red Chips, which are shares of companies with a majority of their business operations in mainland China and controlled by the central, provincial or municipal governments of the PRC, whose shares are traded on the Hong Kong Stock Exchange in Hong Kong dollars. |
| ● | S-Chips, which are shares of companies with business operations in mainland China and listed on the Singapore Exchange. S-Chip shares are issued by companies incorporated anywhere, but many are registered in Singapore, the British Virgin Islands, the Cayman Islands, or Bermuda. |
Although the Fund reserves the right to replicate (or hold all constituents of) the Underlying Index, the Fund expects to use representative sampling to track the Underlying Index. “Representative sampling” is a strategy that involves investing in a representative sample of securities that collectively have an investment profile similar to the Underlying Index.
As of May 31, 2023, the Underlying Index included 95 securities of companies with a market capitalization range of approximately $819.8 million to $235.9 billion and an average market capitalization of approximately $8.6 billion and the largest markets represented in the Underlying Index were Hong Kong and China. The Underlying Index is rebalanced and reconstituted semi-annually.
The Fund is non-diversified. To the extent the Underlying Index is concentrated in a particular industry, the Fund is expected to be concentrated in that industry.
The Fund may engage in securities lending.
KMED - Performance
Return Ranking - Trailing
| Period | KMED Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -10.0% | -49.0% | 25.0% | 100.00% |
| 1 Yr | -0.3% | -51.7% | 20.9% | 95.61% |
| 3 Yr | -13.4%* | -23.5% | 10.3% | 99.72% |
| 5 Yr | -4.0%* | -13.9% | 8.2% | 99.53% |
| 10 Yr | N/A* | -6.6% | 4.5% | 70.56% |
* Annualized
Return Ranking - Calendar
| Period | KMED Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2022 | -21.3% | -50.1% | -2.4% | 26.91% |
| 2021 | -23.0% | -33.1% | 22.5% | 97.03% |
| 2020 | 61.9% | -22.1% | 80.1% | 1.33% |
| 2019 | 9.8% | -0.7% | 42.0% | 92.44% |
| 2018 | N/A | -31.2% | -5.8% | N/A |
Total Return Ranking - Trailing
| Period | KMED Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -10.0% | -48.6% | 27.0% | 100.00% |
| 1 Yr | -0.3% | -51.3% | 25.3% | 95.61% |
| 3 Yr | -13.4%* | -23.3% | 14.1% | 99.72% |
| 5 Yr | -4.0%* | -13.0% | 8.9% | 99.53% |
| 10 Yr | N/A* | -1.9% | 6.3% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | KMED Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2022 | -21.1% | -42.2% | 1.9% | 39.89% |
| 2021 | -22.7% | -32.5% | 33.1% | 99.72% |
| 2020 | 61.9% | -20.0% | 81.6% | 1.92% |
| 2019 | 11.7% | 2.3% | 42.0% | 95.68% |
| 2018 | N/A | -29.8% | -5.3% | N/A |
KMED - Holdings
Concentration Analysis
| KMED | Category Low | Category High | KMED % Rank | |
|---|---|---|---|---|
| Net Assets | 2.13 M | 87.1 K | 75.7 B | 98.98% |
| Number of Holdings | 102 | 10 | 6734 | 49.23% |
| Net Assets in Top 10 | 786 K | 340 K | 19.3 B | 99.23% |
| Weighting of Top 10 | 38.35% | 2.8% | 71.7% | 33.12% |
Top 10 Holdings
- INTL HOLDING CO PJSC COMMON STOCK 4.70%
- REDE D'OR SAO LUIZ SA COMMON STOCK 4.69%
- SAMSUNG BIOLOGICS CO LTD COMMON STOCK 4.52%
- SHENZHEN MINDRAY BIO-MEDIC-A COMMON STOCK 4.42%
- BANGKOK DUSIT MED SERVICE-F COMMON STOCK 4.30%
- CELLTRION INC COMMON STOCK 4.25%
- IHH HEALTHCARE BHD COMMON STOCK 3.84%
- CELLTRION HEALTHCARE CO LTD COMMON STOCK 2.89%
- JIANGSU HENGRUI PHARMACEUT-A COMMON STOCK 2.42%
- AIER EYE HOSPITAL GROUP CO-A COMMON STOCK 2.32%
Asset Allocation
| Weighting | Return Low | Return High | KMED % Rank | |
|---|---|---|---|---|
| Stocks | 99.96% | 0.90% | 110.97% | 4.88% |
| Cash | 0.04% | -23.67% | 20.19% | 93.19% |
| Preferred Stocks | 0.00% | 0.00% | 6.07% | 99.23% |
| Other | 0.00% | -1.48% | 9.95% | 94.47% |
| Convertible Bonds | 0.00% | 0.00% | 7.40% | 99.23% |
| Bonds | 0.00% | -0.03% | 48.23% | 98.97% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | KMED % Rank | |
|---|---|---|---|---|
| Healthcare | 93.26% | 0.00% | 93.26% | 0.13% |
| Consumer Defense | 6.02% | 0.00% | 28.13% | 54.66% |
| Basic Materials | 0.72% | 0.00% | 30.03% | 95.47% |
| Utilities | 0.00% | 0.00% | 39.12% | 99.35% |
| Technology | 0.00% | 0.00% | 47.50% | 100.00% |
| Real Estate | 0.00% | 0.00% | 17.15% | 99.48% |
| Industrials | 0.00% | 0.00% | 43.53% | 100.00% |
| Financial Services | 0.00% | 0.00% | 48.86% | 100.00% |
| Energy | 0.00% | 0.00% | 24.80% | 99.87% |
| Communication Services | 0.00% | 0.00% | 39.29% | 100.00% |
| Consumer Cyclical | 0.00% | 0.00% | 48.94% | 100.00% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | KMED % Rank | |
|---|---|---|---|---|
| Non US | 98.82% | -4.71% | 112.57% | 13.11% |
| US | 1.13% | -1.60% | 104.72% | 45.89% |
KMED - Expenses
Operational Fees
| KMED Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.79% | 0.03% | 41.06% | 85.75% |
| Management Fee | 0.78% | 0.00% | 2.00% | 34.44% |
| 12b-1 Fee | 0.00% | 0.00% | 1.00% | 14.97% |
| Administrative Fee | N/A | 0.01% | 0.85% | N/A |
Sales Fees
| KMED Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 0.40% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| KMED Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.40% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| KMED Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 73.00% | 0.00% | 190.00% | 72.90% |
KMED - Distributions
Dividend Yield Analysis
| KMED | Category Low | Category High | KMED % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.23% | 0.00% | 13.51% | 51.34% |
Dividend Distribution Analysis
| KMED | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annually | Quarterly | Annually |
Net Income Ratio Analysis
| KMED | Category Low | Category High | KMED % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -0.05% | -1.98% | 17.62% | 78.13% |
Capital Gain Distribution Analysis
| KMED | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 30, 2022 | $0.046 | OrdinaryDividend |
| Dec 31, 2021 | $0.108 | OrdinaryDividend |
| Dec 31, 2020 | $0.008 | OrdinaryDividend |
| Dec 31, 2019 | $0.379 | OrdinaryDividend |
| Dec 28, 2018 | $0.003 | OrdinaryDividend |
KMED - Fund Manager Analysis
Managers
Jonathan Shelon
Start Date
Tenure
Tenure Rank
Aug 29, 2018
3.76
3.8%
Jonathan Shelon, Managing Partner and Chief Operating Officer at Krane, also serves as a portfolio manager of each Fund and supports Mr. Schlarbaum and Krane’s investment team with respect to each Fund. Mr. Shelon has been a portfolio manager of each Fund since August 2018 (in the case of KraneShares CSI China Internet ETF, KraneShares Electric Vehicles and Future Mobility Index ETF, KraneShares Emerging Markets Consumer Technology Index ETF, KraneShares MSCI All China Healthcare Index ETF, KraneShares MSCI All China Index ETF, KraneShares MSCI China Environment Index ETF, KraneShares MSCI One Belt One Road Index ETF and KraneShares Zacks New China ETF) or since inception (in the case of KraneShares Emerging Markets Healthcare Index ETF, KraneShares MSCI All China Consumer Discretionary Index ETF, KraneShares MSCI All China Consumer Staples Index ETF and KraneShares MSCI China A Inclusion Hedged Index ETF,). Mr. Shelon joined Krane in 2015 as a Managing Partner. Mr. Shelon has spent the majority of his career managing investment portfolios and diverse teams at leading asset management organizations. Most recently, he was the Chief Investment Officer of a 40-person global Specialized Strategies Team at J.P. Morgan with $40 billion AUM. Prior to joining J.P. Morgan, Mr. Shelon spent ten years as a portfolio manager at Fidelity Investments since 2001 where he was responsible for the investment performance, process and evolution of their target-date strategies for retirement savings, college savings and income generation. Prior to joining, he was a quantitative consultant at Callan Associates, Inc.
James Maund
Start Date
Tenure
Tenure Rank
Jan 14, 2020
2.38
2.4%
James Maund, Head of Capital Markets at Krane Funds Advisors LLC. He joined the Krane Funds Advisors in 2020 and has been in the investment management industry since 2005. Previously, he was a Vice President in the Institutional ETF Group and a member of the ETF Capital Markets Group at State Street Global Advisors (2010-2019); and an ETF trader at Goldman Sachs & Co (2005-2010). Mr. Maund graduated with a bachelor’s degree in economics from Wesleyan University.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.09 | 33.71 | 6.47 | 13.42 |
